Maharashtra saw highest number of complaints against digital loan apps

More than 2,500 complaints were made by customers to the Reserve Bank of India against digital loan applications (apps) between January 2020 and March 2021, Union Minister of State for Finance Bhagwat Karad informed the Lok Sabha on Monday.

Chart

A total of 2,652 complaints against digital loan apps (DLA) were received by ‘Sachet’ — a portal established by the RBI under the State Level Coordination Committee mechanism to register complaints by the public against unregistered entities. Highest number of complaints were received by Maharashtra, followed by Karnataka and Delhi.

“The Department of Supervision at the RBI has been designated as the nodal department for dealing with complaints against unauthorised digital lending platforms/mobile apps and a mechanism to handle specific references on unauthorised digital lending platforms has been laid down,” the minister said in a written reply.